Initially founded as an open source consulting company by Reuven Cohen, George Bazos and Lars Forsberg, the company quickly grew from an open source consultancy and system integrator into one of the first focused on the emerging cloud computing space. Richard Reiner joined Enomaly as Chairman and CEO in March, 2009. The company was among the first[dubious– discuss] to provide a self-service Infrastructure-as-a-Service (IaaS) platform with the first version launched in 2005 under an open source platform called Enomalism, later renamed ECP and made available commercially as closed sourced.

Enomaly's current software, called Elastic Computing Platform, Service Provider Edition (ECP/SPE) was released in July, 2009 and allows web hosts and service providers to offer public facing IaaS and cloud services to their customers in a means similar to that of Amazon Ec2. Enomaly offers cloud infrastructure capabilities to established carriers, service and hosting providers who in turn use their existing physical data center to offer a combination of cloud services and dedicated hosting services to their customers.[citation needed]

In November 2010 Enomaly launched SpotCloud.com, described as the first[dubious– discuss] commodity style Clearinghouse & Marketplace for unused cloud computing capacity. According to the SpotCloud site the service is "Built on Google App Engine and the Enomaly ECP platform (as well as other cloud infrastructure platforms in the near future), SpotCloud is an easy to use, structured cloud capacity marketplace where service providers can sell their excess computing capacity to a wide array of buyers and resellers."